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Slops, any word from IR?
I can speak for all here and say we all sure hope so. We all have a lot of money invested into this.
There are however a few minor problems to deal with like no sales, no product available for sale, no financial statements filed, no outstanding shares left and no communication from our fearless leader. Other than that everything is fine.
Board optimists claim every week that news is immanent. Naysayers which I have now become are calling bs when they hear it and want some scintilla of evidence to support claims.
Still waiting and wondering....
Well what is his plan? Maybe he tell the rest us!
IR may or may not exist. However, we have no other way to try to get any information from this company. For now, I will cling to the illusion that IR exists. I have no other choice (except to sell). I can say that I no longer have delusions that this stock will be a zip code changer or any of that other nonsense. Right now my goal is to try to recoup my investment and get out of this POS at the first opportunity.
To any newbies, the product works, but management sucks. You can still trade this stock and make some money; but a long-term home run type investment....NFW.
Of course things could change...all IMHO.
Drum that is good news if it is true. It would be nice if the Company would confirm that with an explanation to investors.
Nobody should be jumping off any cliffs here. The company went a long time without needing to sell stock to raise money. It is obviously a big disappointment that the company is not self-sustaining...but we knew that. Product hasn't been available for sale for a while. I can only hope that Otiko will use the new shares judiciously. We have no real choice but to let this play out.
The delay in financial statement issuance is confounding. As a former CPA, the accounting part is easy, especially regarding a company with very little activity. So why the delay? In a prior post I speculated that the accountants got a late start or they were owed money. Maybe they can't agree on how to present something. Maybe the accountants are saying that FASB rules require the company to show a big loss on something and Otiko disagrees. Maybe Otiko wants to show revenue for something and the accountants disagree. Maybe at this point, they will just combine the second quarter with the third quarter.
If thats the case, we won't hear anything at least until November 15th. Hopefully we will know soon enough.
At this point since the company for some unknown reason can't seem to issue financial statements, I would settle on seeing product available for sale. Actually I would like to buy some.
Yes definitely news today. If not today then tomorrow, or by the end of the week. But if not then definitely by the end of the month, but for sure by the end of the year. Gonna be a great year-end all!! Although there may be tax selling at the end of the year so the Company may wait until early January for the January effect unless there are supply chain issues. But absolutely by the end of the first quarter!!
Looking forward to it. Go VDRM!!
Does that mean you know but you can't say; or you don't know?
Very funny!!
Can someone on Stocktwits ask him where he got it?
If posters are so confident with their due diligence and the company, they shouldn't be rattled by some negative opinions. These opinions are coming from shareholders holding many shares who are tired and frustrated with the continuing bs. We all want the company to suceed.
Looks like no financials again this week...maybe next week, or the week after? Who knows? Only the doc knows. Sorry folks, the doc seems completely indifferent to complying with the rules of being a publicly traded company. Something is up. The doc never asked for an extension to the filing deadline because he must have known that he wouldn't meet it. 45 days late now . Apparently the doc doesn't care. No filing, no explanation to the shareholders, no product on the shelves...this is a bust and I feel real foolish. I now agree with others that we won't see a filing until at least November 15th. Can a company simply skip a quarter filing?
Positive news of substance will cure all ills. Doc??? Hello??
Slops, love the enthusiasm!
Alright Doc. Next week it is. Make it happen!!
"Financials coming out in a few days....next week...next month."
Reminds of the sign in a bar: "Free beer tomorrow".
Forever waiting for tomorrow.
Ground control to Dr. O., come-in Dr. O. Dr. O...hello, anyone out there?
Chaser, what more can anyone say to that? Sorry to say it but the Dr. has proven that he has no credibility.
The things that keep me interested are the product itself, the fact that there are licenses in place generating revenue and the fact that the Dr. has (for more than a year now) stopped using shares to raise cash. Also, the Doc owns a lot of shares.
I would think that he, just like us, wants to increase the pps.
The status of the unfiled financials is very, very concerning to me. Quarterly statements are unaudited and easier to produce. I am scratching my head as to the reason for the delay. Maybe VDRM owes the accountant money? Maybe the accountant got a late start on the quarterly report and things are simply delayed? Maybe there is a dispute over how something is to be presented? Wish I knew.
Chase, this is what I found:
Companies that fail to file within the allowed grace period are subject to a variety of costly penalties, including deregistration by the SEC, delisting by stock exchanges, the inability to raise capital through issuance of public securities, and potential debt covenant violations.
Other adverse consequences include the inability to hold an annual shareholder meeting until the 10-K is filed. However, that the most costly penalties are typically imposed only in the most egregious cases. For example, SEC administrative proceedings are usually reserved for issuers who are excessively late; and stock exchange delisting procedures are typically not triggered until the company is at least six months late in its filing. However, some penalties are effectively imposed immediately upon expiration of the grace period. Specifically, companies who miss the grace period are not eligible to issue securities using Form S-3 (referred to as “shelf registration”) until they have filed in a timely manner for at least 12 months. This imposes costs by limiting a company’s ability to raise capital on a timely basis. Covenant violations are also a potential cost that would be immediately incurred.
Thanks, I did see that. We are already 5 days out from that statement. I trying not to take this man literally. To me, a few days means three days. Hopefully, they get posted this week.
Investors need confirmation or some evidence to corroborate the news. Without it, its just more B.S. from the doc and the pps will just trickle down.
Does anyone know where the financials are? If you find them, please let Otiko know.
DB, while it was nice to get some news, IMHO, its not nice to gloat. Financial Statements are now 30 days late, no product is on the shelf and there are no sales. Company needs verifiable news/progress to sustain pps. Based on owning this stock for over 5 years, I must remain a bit jaded and reserve my euphoria.
Sorry all...just venting.
"We anticipate filing our second quarter financial report with OTC Markets within the next few days. The delay was due to some missing information which we expect will be resolved very shortly.”
This guy needs to be able to bullsh*t better. "Missing information??" Maybe he's wondering where all of the sales are. He can't do better than that? Like I said before: The dog ate my homework.
Otiko to PR guy: "Hey Sid, yeah tell the shareholders we're missing some information. They'll love it." What a joke. This guy thinks we're stupid...maybe we are.
The sentences themselves are inconsistent. "Anticipate filing within the next few days...missing information to be resolved very shortly." "Shortly" in Otiko world could mean 6 weeks.
Was June 30th a quarter-end or year-end of VDRM?
I don't have a good feeling about this. Why aren't the financials posted already?? What could possibly be the excuse? Seriously. Did they not give the accounting firm enough lead time? Do they owe the accounting firm money?
It doesn't take long to record the journal entries to close the books after quarter end, especially for a company with very little activity. With this company, the footnotes are usually a duplicate of the prior quarter.
I am not as much urging to see the results of the report as I am to see the report itself filed. Not filing means defying SEC reporting requirements. I've seen it happen (and lost a lot of money) where a Company doesn't want to spend the money on auditors or doesn't want to have to answer to shareholders and it goes dark. That would be a death knell to the shareholders. This is very, very serious. This extended delay smacks of something gone awry. I HAVE YET TO HEAR BACK FROM IR. If somebody knows something, feel free to share.
I have not received any response to my email.
I can only assume that IR is extremely busy with Walmart or CVS or Trinity Health or all of the above drafting a huge press release.
I don't want fluff PRs and I'll wait for news of substance when it's ready to be disclosed. However I take issue with a Company missing (ignoring) required financial reporting with no requested extension or any offer of explanation. That is simply derelict.
If I don't receive a response within a few days, I will call him.
Just emailed IR. Will pass on any reply.
I expect a generic response. Below is my guestimate of possible responses:
-Report is done, waiting on accountant's opinion.
-Report is done, waiting for attorney signoff.
-Report is done, going through final internal review.
-Report to be filed tomorrow (saw a similar sign in the local pub "free beer tomorrow".
-Dr. O. is out of the country (or other travel issues - car broke down, cab company is on strike, etc.; report to be filed when he returns.
-Dr. O. has food poisoning (pick an illness); report to be filed when he returns.
-Dr. O. had a death in the family; report to be filed when he returns.
-Waiting on OTC to publish report.
-Dog ate my homework.
How can the Doc appear to be so cavalier about missing the filing deadline? We are going on a month now. Missing SEC deadlines has to have ramifications; none of which would be good for us stockholders. I hope the Doc knows what he is doing (or at least his professional advisors know what they are doing). The longer this goes, the more concerned I become.
Yeah, yeah, yeah; I know I can sell, blah, blah. Looking for some healthy discussion on this issue.
Couldn't agree more! Although instead of disrespect, to me it's utter indifference. Were thinking about him and wondering what he's doing all of the time; while he doesn't give us a second thought. Otiko can hardly remember that VDRM is a public company let alone acknowledge the existence of shareholders. Who??
DB, I love your confidence. I have been in this stock for over 5 years. During that time I have witnessed and suffered through many broken promises. While it has given me opportunities to buy cheap and lower my average cost, I may have simply thrown good money after bad.
To me Dr. O's forward looking statements have lost all credibility. While I'm not from Missouri, at this point, I need proof of sales, proof of revenues, etc.
So.....may I ask what makes you so confident? Why will this time be any different?
Does anyone know when the SEC will deregister a company that fails to file a quarterly report?
Why "hopefully"? If there is no news and the stock goes down to the .005s again, that would seem to confirm fears that Otiko has no credibility and the company is a sham. In such event, how does that benefit any of us?? Having confirmed the above as true, you would still buy more?
I have said this before. In my humble opinion, Otiko doesn't seem to behave as if this is a public company as there is absolutely no urgency or accountability to meet SEC deadlines or to announce material events. He has broad discretion to do what he wants when he wants. I am hoping however that due to his significant share holdings, his goal is to maximize share value so that he and all of us will benefit. What other real motivation would he have?
This thing is going to $1.00 next week!!!
Sorry, always wanted to say that. Not investment advice!
Maybe more?
Management to Accountant: "Can't we show some revenue from sales on the financial statements?"
Accountant to Management: "Did you actually sell anything?"
Management: "Well, we talked a lot about selling stuff."
Accountant: "Yes, but did you actually sell anything?"
Management: "Well, what do you mean by sales? We have had conversations with hospitals, insurance companies, RX places."
Accountant: "Yes, but did you actually sell anything?"
Management: "Well, everyone is very excited and things look promising."
Accountant: "Yes, but did you actually sell anything?"
Management: "Any day now."
Accountant: "No."